The Fed can LEGALLY generate or destroy money

来源: dividend_growth 于 2007-08-17 21:10:46 [] [旧帖] [给我悄悄话] 本文已被阅读： 0 次 (243 bytes)
It's rule maker, all others are obey its rules.

There are times in which the Fed will not please the market: in 1980/81, the Fed ran up the Fund rate to 18% to kill the inflation. It succeeded and caused the worst recession since 1937.
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